A full style attack – or so it would seem to see the enormous volumes of $UST who have left the protocol and trying to push the depeg what is it stablecoins algorithmic reference of the world of Earth Moon.
An assault that, at least at the time of writing this Sunday analysis of ours, would seem to have failed, leaving behind rather heavy aftermath for the $LUNA in particular and in general also with regard to the crypto world.
Prices even lower than yesterday, with $LUNA which is about al 40% less than its all-time high. We can invest on these prices with eToro – go here to get a free trial account with virtual capital included – intermediary that allows us to invest are 63+ cryptocurrencies and that offers the top in terms of tools for the market.
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Terra Luna under attack: this is what happened
More or less since yesterday important mobilizations of capital have begun, which have led for a few hours even to a depegthat is to a separation between the value of $UST against the dollar, then promptly returned at least at the time of writing, with theoutflow which would seem to continue, also thanks to a certain panic that has been triggered. Outflow which, however, has taken on smaller proportions.
All seasoned with conspiracy theories and statements of strength by the staff of Earth Moonwhich would have at least the ideal purpose of to report the serene on the markets. The worst, at least for now, would seem to be behind us, although there is some theme that it is perhaps worth talking about, also to understand if for $LUNAjust above the 60$we could consider the presence of a bottom o meno.
And therefore of a price per Earth Moon which may turn out to be cheaper than it seems. Overall we speak of a maximum depeg reached at this stage of about 8 per thousand. In our opinion, the sum is more than tolerable (even if each one will have to make his own considerations, also taking into account the risks he wants to run).
Coordinated attack? It is absolutely irrelevant
Let’s start by clarifying one aspect of the question. There are those who speak of coordinated attackgiven that within a few seconds between Curve e Binance they have seen almost dumps 300 million dollars from USTimmediate short on $LUNA and other elements that would actually make us think of something not “natural”.
But why do we say that it doesn’t matter whether or not they are coordinated attacks? Because a solid protocol must necessarily withstand not only situations of normalitybut also those of greater risk triggered perhaps by those who are trying to smash the toy for his personal gain.
We live in a world where we have seen national currencies of a certain thickness, we think of Sterline GBP and the old woman Italian lira, end up in the crosshairs of speculators. Let alone if it makes sense to claim some sort of immunity for $UST and blame any bad guys who are trying to get it all down for failure.
The fact that it quickly returned to a near-perfect peg, despite sales important it is probably a good sign, and perhaps this should be looked at rather than desperately seeking plots to make the project fail. The project, we repeat once again, has reason to exist if and only if it will be able to overcome these moments.
Attractive price on Terra Luna
The price of $LUNAwhich he lost over the 10% on 24 and at the time of this writing it is around 64 dollars. A price that will be interesting for many, given that the token was traded at a high level only some time ago 100$. If the saying is true that it is best to buy when there is (metaphorical) blood on the streets, this could be the opportunity everyone has been waiting for.
All in the hope that next week on the markets will be calmer, one that could mark a recovery in a sector that, like the equity sector, is paying a rather high price.
Bank run & Death Spiral: the two fears of the moment
That is the possibility that there is a race to “convert” their own $UST not to be left with the proverbial match in hand – and the possibility that one will trigger spiral of death.
